Nexus is a blockchain technology company developing a peer-to-peer decentralized blockchain network and cryptocurrency called Nexus (NXS). Nexus uses a blockchain ledger that is intended to be resistant to security threats presented by the development of quantum computing. Nexus achieves their high level of security through combining 571-bit private keys, 1024-bit Skein and Keccak quantum resistant hashing algorithms, and signature chains (sigchains) that provide a cryptographic identity and proof of ownership system.
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- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.
- Quantum computingThe study of computation systems that make use of quantum mechanical phenomena (eg entanglement and superposition). Quantum computers use qubits (rather than binary 0 and 1s) which can be in both states at the same time by being in a superposition of states.